Market News
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$2.3 billion is the size of the cooperation portfolio between Egypt and the International Finance Corporation:Planning
Monday 28/10/202413:28:38 PMRead more$2.3 billion is the size of the cooperation portfolio between Egypt and the International Finance Corporation:Planning
Youm7-
The International Finance Corporation contributes to pumping investments across vital sectors, which leads to achieving sustainable development and creating diverse job opportunities for young people in Egypt.
A report by the Ministry of Planning, Economic Development and International Cooperation indicated that the size of the current cooperation portfolio between Egypt and the International Finance Corporation amounts to about $2.3 billion, in many sectors including financial markets, agriculture, health, education, manufacturing, tourism, retail, construction and real estate, investment funds, and infrastructure.
The report added that the technical support portfolio is worth $24.8 million, and these consultations were directed to support many important sectors such as renewable energy, private sector development, environment, social and environmental governance, finance and insurance, transportation and storage, healthcare, and chemicals..
The report emphasized the developments in the strategic partnership between the government and the International Finance Corporation, to provide advisory services for the offering program, in addition to enhancing private sector participation in many sectors, offering seawater desalination plants, and carbon markets. The mission expected to come to Egypt to discuss the Capital Markets Development Program (J-CAP) was also addressed, with the aim of helping emerging economies strengthen capital markets and enhance investments in securities, and support financial diversity in capital markets to attract local and foreign investments.
The report indicated the government's appreciation for the close partnership with the International Finance Corporation, as one of the largest multilateral financing institutions, to empower the private sector, explaining the importance of benefiting from the institution's extensive expertise in taking advantage of the opportunities available in each of these sectors, and bridging financing and development gaps in vital priority sectors.
The report also stressed the importance of integration between the World Bank, the International Finance Corporation, and the Multilateral Investment Guarantee Agency, to provide innovative financial tools to member states that enable member states. -
Chairman of the FRA and Minister of Youth and Sports sign a cooperation protocol regarding monitoring the optimal use of financing for small, medium and micro enterprises in the governorates
Monday 28/10/202413:26:42 PMRead moreChairman of the FRA and Minister of Youth and Sports sign a cooperation protocol regarding monitoring the optimal use of financing for small, medium and micro enterprises in the governorates
- Starting the implementation of courses to qualify young people to work as affiliates of the Authority in monitoring and evaluating the optimal use of financing, including all the necessary dimensions for that
- Delivering certificates of graduates of the fifth batch of the Certified Financial Trainer Program to spread financial culture
- Launching the new version of the I invest website on social media platforms as an initiative by the Authority to enhance levels of financial awareness and culture
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority(FRA):
- Localizing financial culture in the governorates contributes to enhancing their ability to achieve sustainable development by enabling individuals and companies, especially entrepreneurs, to plan financially properly
- Partnership with the Ministry of Youth and Sports is strategic and targets optimal investment of youth centers across Egypt to qualify young people to explore opportunities for growth through non-banking financial services
Dr. Ashraf Sobhi, Minister of Youth and Sports:
- Launching the first financial club for awareness and non-banking financial culture in youth centers across Egypt's governorates
- Financial awareness is a fundamental pillar of comprehensive and sustainable development
- Building a strong economy that relies on a broad base of young entrepreneurs and investors requires providing a stimulating financial environment and educating young people about the importance of saving and investing
Dr. Mohamed Abdel Aziz, Assistant Chairman of the Financial Regulatory Authority:
- Financial Regulatory moves to the second phase of youth qualification by enabling them to follow up on the optimal use of project financing
The Financial Regulatory Authority signed a cooperation protocol with the Ministry of Youth and Sports, regarding following up on the optimal use of financing from companies and entities of small, medium and micro enterprises. The signing ceremony also witnessed the launch of the first club for awareness and non-banking financial culture in youth centers and youth development centers, and the Authority launched pages on social media platforms under the name "I invest" as part of the Authority's initiative to raise awareness and spread financial culture to all segments of society to benefit from non-banking financial services in meeting their future aspirations.
This comes within the framework of the integration of the efforts of the Financial Regulatory Authority and the Ministry of Youth and Sports aimed at enhancing comprehensive development, supporting young entrepreneurs, and raising awareness of all the diverse and innovative financial services and solutions provided by the non-banking financial sector for small, medium and micro enterprises.
The protocol aims to enhance cooperation and implement training programs for young people affiliated with the Ministry of Youth and Sports and the Financial Regulatory Authority, to enable young people to follow up on the optimal use of financing for small, medium and micro enterprises, and to play an effective role in enhancing transparency, achieving accountability and quality in this important sector by providing training and practical guidance for young people, including learning methods of financial evaluation and review, financial performance analysis, risk assessment and identifying best practices in the field of managing small, medium and micro enterprises.
Therefore, the Financial Regulatory Authority has prepared a program to qualify young people to be able to follow up on the optimal use of financing for small, medium and micro enterprises, and to form teams to verify and field examine the sustainability of microfinance projects, which is a specialized program based on covering the technical aspects that members of the field examination teams must be familiar with, and the skills necessary to decisively and effectively verify the sustainability of projects financed by microfinance institutions licensed by the Financial Regulatory Authority.
Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority, said that the Authority aims to localize and spread financial culture through the centers and clubs of the Ministry of Youth and Sports, spread throughout the Arab Republic of Egypt, explaining that the importance of educating young people about non-banking financial services is embodied in enhancing community development and promoting financial inclusion, which is then reflected in achieving real growth in the national economy.
He pointed out that this will contribute in turn to achieving comprehensive development in Egypt's governorates and supporting our people in the necessary financial planning to meet their investment, insurance and financing needs to change their life reality in partnership with the Ministry of Youth and Sports.
He added that the coming period will witness a study of the application of simulation models for all non-banking financial activities, between the Authority and the Ministry for all different age groups, to consolidate the principles of financial planning, saving and investment and to provide the knowledge and skills necessary to make informed financial decisions and achieve financial goals in the long term, as this increases the possibility of employing trained youth through these programs.
He pointed out the importance of the current cooperation between the Financial Regulatory Authority and the Ministry of Youth and Sports, as the knowledge that young people received has transformed from "knowledge that is personally beneficial" to knowledge that benefits society and participates effectively in regulating markets through the Financial Regulatory Authority.
During his speech, the Minister of Youth and Sports stressed that this protocol comes within the framework of the efforts of both the Ministry of Youth and Sports and the General Authority for Financial Regulatory Affairs to enhance comprehensive development, support young entrepreneurs, and raise awareness of small, medium and micro enterprises, noting that this protocol represents a qualitative step towards empowering Egyptian youth, enabling them to invest in their energies and creativity, and transforming their ideas into real projects that contribute to the development of our society.
Dr. Ashraf Sobhi pointed out that the signing of this protocol between the General Authority for Financial Regulatory Affairs as the regulatory and legislative body responsible for legislation and Regulatory of non-banking financial markets, regulating and developing these markets and achieving their financial stability, and the Ministry of Youth and Sports as the ministry that seeks to improve the quality of life of Egyptian youth and develop their skills and capabilities, hence the importance of this protocol, which is the culmination of a series of efforts made by The Egyptian state, led by His Excellency President Abdel Fattah El-Sisi, supports youth and provides all the reasons for their success, believing in the importance of their role in building Egypt's future.
The Minister of Youth also pointed out that the importance of educating youth about non-banking financial services is represented in enhancing community development and promoting financial inclusion and then the economy, as it contributes to understanding and appreciating the importance of financial planning, saving and investment, and providing the knowledge and skills necessary to make informed financial decisions and achieve their financial goals in the long term. Understanding non-banking financial services also helps youth obtain new opportunities that enable them to create alternative sources of income, and encourages creative thinking, innovation and development of new financial solutions, and providing innovative services to meet market needs and enhance entrepreneurship, which contributes to enhancing confidence and financial independence and thus developing society and achieving economic balance.
"Sobhi" added that the Ministry of Youth and Sports believes that investing in youth is investing in the future, and for this reason, we pay great attention to empowering youth, developing their capabilities, and helping them achieve their ambitions, with the aim of preparing leaders for change, who have the ability to make an impact in their local and extended communities, stressing that financial awareness is a fundamental pillar of comprehensive and sustainable development, and building a strong economy that relies on a broad base of young entrepreneurs and investors, and requires providing a stimulating financial environment and educating youth about the importance of saving and investing.
At the end of his speech, the Minister of Youth and Sports announced the launch of the first club for non-banking financial awareness and culture in youth centers and youth development centers in a new direction within youth centers.
For his part, Dr. Mohamed Abdel Aziz, Assistant Chairman of the Financial Regulatory Authority, said that the Authority's plan for training and spreading financial awareness and culture among youth included several stages since 2022, and is now moving to the second stage, in which youth will be qualified to enable them to follow up on the optimal use of financing for small, medium and micro enterprises.
He explained that the Authority's efforts to spread financial culture and awareness resulted in a boom in the number of young people benefiting from the awareness programs and lectures prepared by the Financial Regulatory Authority, which reached 10,640 young people, until we reached the current cooperation that will enable young people to conduct financial evaluation and review, analyze financial performance, assess risks and learn about best practices in the field of managing small, medium and micro enterprises.
He added during his speech that the cooperation between the Financial Regulatory Authority and the Ministry of Youth and Sports is the culmination of the efforts of integration between government agencies to invest in the energies of young people and direct them to the right path, which is reflected in the national economy and investment and savings rates.
On the sidelines of signing the protocol, the young people who passed the fifth session of the Certified Financial Trainer courses were honored, which produced young people qualified for awareness and training in various governorates of Egypt.
For her part, Dr. Manal Gamal, Head of the Central Administration for Youth Empowerment at the Ministry of Youth and Sports, said that cooperation with the Financial Regulatory Authority contributes to opening new horizons for developing and enhancing the capabilities of Egyptian youth, especially in financial matters, which enables them to plan financially properly and make informed decisions related to investment and savings, which helps them achieve their goals, noting that the financial clubs that have been launched and will be activated soon are intended to include a large number of youth centers and clubs in an attempt to accelerate the pace of spreading financial awareness and culture. -
Bahrain's general and Islamic indices close higher
Monday 28/10/202413:15:29 PMRead moreBahrain's general and Islamic indices close higher
SPA-
The Bahrain All Share Index closed today at 2,012.09, an increase of 11.29 points over the previous closing due to the increase in the Financial Sector and Basic Materials Sector.
The Bahrain Islamic Index also closed at 791.75, an increase of 3.65 points over the previous closing.
The volume of shares traded today amounted to 1,343,861 shares with a total value of 693,152 Bahraini Dinars executed through 73 transactions. -
Qatar Stock Exchange Index closes trading down
Monday 28/10/202413:14:29 PMRead moreQatar Stock Exchange Index closes trading down
SPA-
The Qatar Stock Exchange index closed its trading session today, down by 55.67 points, or 0.53 percent, to reach 10504.28 points.
The session witnessed the trading of 235 million, 303 thousand, and 756 shares, with a value of 418 million, 497 thousand, and 173.313 Qatari riyals, as a result of executing 15020 deals in all sectors.
The market capitalization at the end of the trading session amounted to 621 billion, 884 million, 151 thousand, and 517.120 Qatari riyals, compared to 622 billion, 306 million, 952 thousand, and 646.390 Qatari riyals in the previous session. -
Tender Results of Government Treasury Bills Worth RO 1 Million Issued
Monday 28/10/202413:12:43 PMRead moreTender Results of Government Treasury Bills Worth RO 1 Million Issued
(ONA)-
The total issuance of Government Treasury Bills amounted to RO 1 million.
The value of the allotted Treasury bills stood at RO 0.5 million, for a maturity period of 28 days.
The average accepted price reached RO 99.665 for every RO 100, and the minimum accepted price arrived at RO 99.665 per RO 100. The average discount rate and the average yield reached 4.36696% and 4.38164%, respectively.
The value of the allotted treasury bills amounted to RO 0.5 million, for a maturity period of 91 days. The average accepted price reached RO 98.850 for every RO 100, and the minimum accepted price arrived at RO 98.850 per RO 100. The average discount rate and the average yield reached 4.61264% and 4.66630% respectively.
Treasury bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides theadded advantage of ready liquidity through discounting and repurchase facilities (Repo).
It may be noted that the interest rate on the Repo operations with CBO is 5.50% while the discount rate on the Treasury Bills Discounting Facility with CBO is 6.00%.
Furthermore, Treasury bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may also resort to this instrument whenever felt necessary for financing its recurrent expenditures. -
Arabian Cement Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )
Monday 28/10/202413:11:24 PMRead moreArabian Cement Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )
Tadawul-
Element List Current Quarter Similar Quarter For Previous Year %Change Previous Quarter % Change
Sales/Revenue 224.9 213.7 5.24 175.2 28.367
Gross Profit (Loss) 68.1 52.9 28.733 48.6 40.123
Operational Profit (Loss) 52 33.9 53.392 31.1 67.202
Net profit (Loss) 45.8 29.7 54.208 28.9 58.477
Total Comprehensive Income 41.3 9.6 330.208 23.8 73.529
All figures are in (Millions) Saudi Arabia, Riyals
Element List Current Period Similar Period For Previous Year %Change
Sales/Revenue 627.7 650.6 -3.519
Gross Profit (Loss) 185.9 166.4 11.718
Operational Profit (Loss) 136.2 112 21.607
Net profit (Loss) 128.8 106.9 20.486
Total Comprehensive Income 112.3 92.2 21.8
Total Shareholders Equity (after Deducting Minority Equity) 2,535.4 2,542.4 -0.275
Profit (Loss) per Share 1.29 1.07
All figures are in (Millions) Saudi Arabia, Riyals
Element List Amount Percentage Of The Capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - -
Accumulated Losses - -
All figures are in (Millions) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The reason for the increase in sales during the current quarter compared to the same quarter of last year is mainly: increase in average selling price for the parent company
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reason for the increase in net profit during the current quarter compared to the same quarter of last year is mainly: increase in average selling price for the parent company, decrease in cost of sales for the subsidiary company and decrease in selling and distribution expenses despite the increase in cost of purchase of energy mix for the parent company
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason for the increase in sales during the current quarter compared to previous quarter is mainly: increase in sales volume for the group due to the overlap of the previous quarter with Eid Al-Fetr and Eid Al-Adha
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for the increase in net profit during the current quarter compared to previous quarter is mainly: increase in sales volume for the group due to the overlap of the previous quarter with Eid Al-Fetr and Eid Al-Adha
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The reason for the decrease in sales during the current period compared to the same period of last year is mainly: decrease in sales volume for the subsidiary company
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason for the increase in net profit during the current period compared to the same period of last year is mainly: increase in average selling price for the parent company, decrease in cost of sales for the group, decrease in selling and distribution expenses, increase in dividends of financial assets at fair value through other comprehensive income, increase in share of profit from equity accounted investments and decrease in finance costs despite the increase in cost of purchase of energy mix for the parent company, decrease in other income and increase in zakat and income tax expense
Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) None
Reclassification of Comparison Items None
Additional Information None -
Announcement by BSF Capital regarding the distributions of Fund’s dividends to the Unitholders of Taleem REIT Fund
Monday 28/10/202413:10:58 PMRead moreAnnouncement by BSF Capital regarding the distributions of Fund’s dividends to the Unitholders of Taleem REIT Fund
Tadawul-
Element List Explanation
Introduction BSF Capital announces the distribution of cash dividend to the Unitholders of Taleem REIT Fund for the period from 30th of June 2024 (corresponding to 24 Thul-Hijjah 1445H) to 30th of September 2024 (corresponding to 27 Rabi’ al-Awwal 1446).
Dividends maturity period For the period from 30th of June 2024 (corresponding to 24 Thul-Hijjah 1445H) to 30th of September 2024 (corresponding to 27 Rabi’ al-Awwal 1446).
Total distributed dividends 8,160,000 SAR
Number of Outstanding Units on which Cash Distributions will be Distributed 51,000,000
Amount of Dividends Distributed per Unit 0.16 SAR
Distribution Ratio of the Net Assets Value (%) 1.6 %
Distribution Ratio of the Net Assets Value as of 2024-06-30 Corresponding to 1445-12-24
Cash Distribution Entitlements to Unitholders Shall be Based on the Unitholder Register on the End of 2024-11-03 Corresponding to 1446-05-01
Distributions will be paid (number of days) Dividends distributions will be paid within 15 business days.
Additional Information The Fund Manager would like to remind the unitholders to update their information with Capital Market Institution, where their accounts are being held, to ensure the direct deposit of their due distributions -
INTRO Technology signs MoU with SWDC to implement contracting works for Kemet Data Center in the Canal Economic Zone
Monday 28/10/202413:09:26 PMRead moreINTRO Technology signs MoU with SWDC to implement contracting works for Kemet Data Center in the Canal Economic Zone
Al Mal-
INTRO Technology, the technological arm of INTRO Holding Group and parent company of Advansys and Forte Cloud, which operates in the field of technology solutions and digital transformation, announced the signing of a Memorandum of Understanding (MoU) with Sterling & Wilson Data Center (SWDC), a global specialist in building data centers and other engineering projects.
The MoU aims to assign the contracting, construction and implementation tasks for the “Kemet Data Center” project in the Suez Canal Economic Zone, affiliated with INTRO Technology, to SWDC, which represents an important step to support the digital infrastructure, and enhances Egypt’s position as a major player in the data centers and cloud services sector.
Under the MoU, SWDC will be the main implementer (EPC) of the center, and will undertake the design work of the project, and manage it from all aspects, starting from planning and budgeting, to following up on timelines and ensuring the achievement of basic objectives such as the Integrated System Testing and Certification (ISAT), in addition to providing maintenance services extending for a period ranging from 3 to 5 years.
Commenting on the importance of the MoU, Eng. Hatem Soliman, Managing Director of INTRO Holding Group, said: “We are excited to partner with SWDC to build the Kemet Data Center according to global best practices, and provide it with advanced technological infrastructure, relying on their extensive experience in building data centers and their commitment to the highest quality standards. This partnership will enable us to provide digital solutions and services that meet the growing needs of customers in the Middle East and Africa region, in line with Egypt’s digital transformation goals and its strategic vision for 2030.” For his part, Prasanna Sarampalli, CEO of Sterling & Wilson Data Centers (SWDC), said: “We are proud of this strategic partnership with INTRO Technology, which reflects our shared commitment to supporting the digital sector and data centers in Egypt, by providing an advanced and sustainable digital infrastructure. As part of this cooperation, we will build the Kemet Data Center according to the highest international standards, thus meeting the requirements of international customers according to the highest standards and contributing to Egypt’s Vision 2030. He added, “We are pleased to be part of Egypt’s advanced digital sector and cloud services, which achieves Egypt’s vision as an attractive destination for global investments.”
The Kemet Data Center will contribute to meeting the growing demand for cloud services, the Internet of Things (IoT) and digital transformation in the Middle East and Africa region, by providing secure, cost-effective and scalable data storage solutions. The center will also benefit from Egypt’s strategic location, which hosts a large portion of the region’s submarine cables.
INTRO Holding Group is one of the most prominent leading Egyptian groups, with a diversified portfolio of projects and businesses in the fields of technology, trade, oil and gas, engineering, real estate and financial investment. Since its establishment in 1980, the group has witnessed remarkable growth thanks to its strategic investments and fruitful partnerships. The group continues to support its subsidiaries in various sectors, which contributes to driving the Egyptian economy towards progress.
With over 96 years of experience in turnkey engineering contracting, SWDC is a market leader in India, having started its Data Center business in 2015 and established its Egypt branch in 2017. In a short span of time, it has executed 25 Data Center projects with a total cabling capacity of over 65 MW, in India and international markets. -
Chairman of the Suez Canal Authority discusses ways of joint cooperation with the Japanese Ambassador in the fields of training and green transformation
Monday 28/10/202413:01:26 PMRead moreChairman of the Suez Canal Authority discusses ways of joint cooperation with the Japanese Ambassador in the fields of training and green transformation
Japanese Ambassador: "The Suez Canal cannot be replaced or dispensed with and will remain a major pillar for the stability and sustainability of global supply chains"
On Monday, Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, discussed with Ambassador Oka Hiroshi, Ambassador of Japan to Egypt, ways to strengthen joint cooperation in the fields of training and green transformation, at the Guidance Building in Ismailia Governorate.
The meeting was attended by a high-level delegation from the Japanese Embassy in Cairo and the JICA office in Egypt, including Mr. Suzuki Yusuke, Counselor at the Japanese Embassy in Egypt, Mr. Eiga Toshiaki, Second Secretary at the Embassy, Ms. Osumi Masa, Representative of the Egypt Office of the Japan International Cooperation Agency (JICA), Ms. Minas Ahmed, Senior Economic Analyst at the Embassy, and Ms. Heba Al-Husseini, Project Officer at the Egypt Office of the Japan International Cooperation Agency (JICA).
At the beginning of the meeting, Lieutenant General Osama Rabie stressed the Suez Canal Authority's keenness to open direct communication channels with all partners and clients and enhance joint cooperation in a way that contributes to optimally serving the maritime community in light of the unprecedented security challenges witnessed by the Red Sea region.
Lieutenant General Rabie explained that the Suez Canal has introduced new services to keep pace with the needs and requirements of ships transiting the canal in normal and emergency conditions, including ship maintenance and repair services, pollution control services, marine rescue services, and others.
The Chairman of the Authority expressed his aspiration to enhance cooperation and partnership relations and invest in the rapprochement between Egypt and Japan to advance joint projects with the Suez Canal in the fields of investment, training, sustainable development, and other areas of common interest, noting in this regard the important role played by the Japanese Embassy during the past period in raising the level of Egyptian-Japanese relations to the level of distinguished partnership, appreciating the distinguished efforts of the Japanese Ambassador in Cairo in supporting joint relations during his tenure as Ambassador in Cairo, which is scheduled to end next November, wishing him success and permanent success.
Lieutenant General Rabie explained that the Suez Canal has taken serious steps towards green transformation within the Authority's strategy to declare the Suez Canal the Green Canal by 2030, including the start of waste removal services from ships crossing the canal in the Port Said and Suez draft areas, in addition to converting the existing guidance stations along the canal to operate with renewable energy.
For his part, Ambassador Oka Hiroshi, the Japanese Ambassador to Egypt, expressed his pride and appreciation for the fruitful cooperation with the Suez Canal Authority, stressing that the Suez Canal will remain a key pillar to ensure the sustainability and stability of global supply chains that cannot be replaced or dispensed with by alternative methods.
The Japanese Ambassador valued the fruitful cooperation between the Japan International Cooperation Agency (JICA) and the Suez Canal Authority, which is planned to be activated during the coming period in the fields of training and technical studies. He also expressed his aspiration to enhance cooperation with the Japanese Shipowners Association to discuss mechanisms to enhance cooperation, transit policies and marketing policies.
After that, the Japanese Ambassador and the accompanying delegation headed to inspect the Suez Canal Museum and get acquainted with its various halls and the collections it contains that narrate the history of the canal through the various stages. -
CBB Treasury Bills oversubscribed by 107%
Monday 28/10/202412:58:27 PMRead moreCBB Treasury Bills oversubscribed by 107%
(BNA)-
This week’s BD 70 million issue of Government Treasury Bills has been oversubscribed by 107%.
The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of the Kingdom of Bahrain.
The issue date of the bills is October 30, and the maturity date is January 29, 2025.
The weighted average rate of interest is 5.95% compared to 5.88% of the previous issue on October 23.
The approximate average price for the issue was 98.518% with the lowest accepted price being 98.450%.
This is issue No. 2040 (ISIN BH0001851391) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BD 2.110 billion -
Wataniya Insurance Company. Announces Resignation Audit Committee Member
Monday 28/10/202412:56:29 PMRead moreWataniya Insurance Company. Announces Resignation Audit Committee Member
Tadawul-
Element List Explanation
Introduction Wataniya Insurance Company announces that the Board of Directors (by circulation) accepts the resignation of the Audit Committee member Mr. Sami Mousa Alhalabi (Independent member – from outside the board) which was received on 22 October 2024, with effective date 22 November 2024, due to his personal reasons.
The Board of directors would like to thank Mr. Sami Mousa Alhalabi for his efforts during his tenure in the Audit Committee and wishing him all the best.
Element List Explanation
Name of Resigning Member Sami Mousa Alhalabi
Resignation Submission Date 2024-10-22 Corresponding to 1446-04-19
Resignation Effective Date 2024-11-22 Corresponding to 1446-05-20
Reasons for Resignation Personal Reasons
Resigning Member Start Date 2022-04-26 Corresponding to 1443-09-25 -
Saudi Re Announces Contract Renewal with Probitas Corporate Capital Ltd
Monday 28/10/202412:56:07 PMRead moreSaudi Re Announces Contract Renewal with Probitas Corporate Capital Ltd
Tadawul-
Element List Explanation
Introduction Saudi Reinsurance Company “Saudi Re” announces renewing a reinsurance contract with Probitas Corporate Capital Ltd.
Date of Announcement of the Award 2024-10-28 Corresponding to 1446-04-25
Contract Subject Matter Reinsurance contract
The Entity with Which the Contract was Signed Probitas Corporate Capital Ltd.
Date of Signing the Contract 2024-10-28 Corresponding to 1446-04-25
Contract Value 33,522,304 GBP
Contract Details Reinsurance contract
Contract Duration One Gregorian year starting from 01/01/2025.
Financial Impact and the Relevant Period The contract is expected to have an impact on the company's financial results starting from the first quarter of 2025
Related Parties There are no related parties involved
Additional Information NA
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Announcement by Tourism Enterprise Company (Shams) Regarding Investment in a A closed-end private equity investment fund
Monday 28/10/202412:55:41 PMRead moreAnnouncement by Tourism Enterprise Company (Shams) Regarding Investment in a A closed-end private equity investment fund
Tadawul-
Element List Explanation
Announcement Detail Tourism Enterprise Company (Shams) announces the decision of its board of directors dated 25/04/1446 AH (28/10/2024) to invest an amount of (243,800,000) Saudi Riyals in a closed private equity investment fund licensed by the Capital Market Authority and managed by SEDCO Capital, the fund aims to develop a five-star hotel in Al Khobar city in Ajdan waterfront area on the Corniche of Al Khobar city, which will be operated under the brand "Fairmont". It is expected that this investment will have a positive financial impact and comes within the company's investment direction.
Start of investment: November 2024
Name of the fund invested in: SEDCO Capital Fund-Ajdan Vermont
Real estate developer: Ajdan real estate development company
Fund capital: 295,000,000 Saudi Riyals
Investment term: 7 years
Expected internal rate of Return of the project: 12,26%.
According to the terms and conditions of the fund, the size of the fund is (445) million Saudi riyals, (150) million Saudi riyals financed through financing in arrangement with the Tourism Development Fund and the remaining amount of (295) million Saudi riyals through investors.
The fund aims to: establish a five-star hotel to be built on a land area of (6,827) square meters directly on the sea in the Corniche of Khobar, and a total building area of (33,917) square meters, the project consists of (36) floors and a number of (160) rooms and a hotel suite.
The project is located in a strategic location in Khobar city, overlooking the waterfront of the Corniche of Khobar city in the Ajdan waterfront project, which is a prominent tourist destination in the region.
It should be noted that work is underway on the construction works of the project, where (26) houses have been completed at the moment.
Shams aims to enter into this investment to take advantage of the opportunities in the tourism sector in line with the state plan and the kingdom's Vision 2030, which aims to develop the tourism sector and raise the number of annual tourist visits to the kingdom to 100 million visitors by 2030 and in support of the plans of the company's Board of directors, which represents one of its goals to build partnerships and alliances with international companies that contribute to the expansion of the company's future business and maximize the return to Shams shareholders. The investment process is also in line with the company's directions, according to the priority rights issue prospectus approved by the Extraordinary General Assembly on 26/04/1444 corresponding to 20/11/2022, which aims to invest in the hospitality sector. Any developments will be announced in due course. -
President El-Sisi and Eni CEO Discuss Strengthening Egypt-Italy Energy Partnership
Monday 28/10/202412:54:33 PMRead morePresident El-Sisi and Eni CEO Discuss Strengthening Egypt-Italy Energy Partnership
Egypt OIL & GAS-
President Abdel Fattah El-Sisi met with Claudio Descalzi, CEO of the Italian company Eni, and his accompanying delegation of senior company officials, in the presence of Karim Badawi, Minister of Petroleum and Mineral Resources.
The meeting discussed efforts to develop the distinguished relations between Egypt and the company. Descalzi expressed his pride in the fruitful cooperation between the two sides, praising in this context the efforts of the Egyptian government to facilitate matters for investors, which benefits both parties.
Descalzi pointed out his company’s keenness to enhance its role as one of the largest players in the energy market in Egypt, given the promising opportunities the sector has, whether in terms of local production or export abroad.
For his part, El-Sisi praised the relationship between Egypt and the company, which reflects the strength of cooperation between Egypt and Italy in various fields. His Excellency highlighted Egypt’s keenness on the continuous development of the investment climate in the country. The president pointed out the government’s continued efforts to expand the horizons of benefiting from the energy file. El-Sisi also praised the company’s societal role, which is reflected in its support for a number of development projects in Egypt.
During the meeting, the company reviewed the developments of its activities in Egypt in the fields of research and exploration, and development operations activities that will enable Eni to maintain high production rates from the fields, in addition to the progress achieved in energy efficiency and sustainability projects, which enhances efforts for a fair energy transition. -
Misr Petroleum Launches Unified SAP System
Monday 28/10/202412:53:33 PMRead moreMisr Petroleum Launches Unified SAP System
Egypt OIL & GAS-
A united system for management of resources and assets (SAP) of the Egyptian General Petroleum Corporation (EGPC) has been recently launched by Misr Petroleum Co., a step that forms a crucial add to the work of the company’s affiliated refineries and distribution firms.
SAP provides an extensive range of software solutions that optimize operational workflows, promote data governance, and facilitate informed decision-making across diverse organizational domains.
“It is a historic day in the journey of Misr Petroleum,” said Mohamed Maged Bakheet, Chairman of the company.
He credited the project’s success to the full efficiency, eagerness, and ability of the working team to face challenges, stating that they met all expectations and presented an outstanding performance.
“This achievement reflects their belief in the importance of development and their willingness to embrace change, enriching Misr Petroleum’s operations and ensuring a more structured and dynamic work environment for all employees,” he added.
He also stated that the experience gained from this application will be transferred to the Cooperation Petroleum Company and integrated as a strategic arm in providing petroleum products alongside Misr Petroleum.
On the occasion of the project’s launch on Thursday, Ahmed Khalifa, EGPC’s Deputy Chairman for Planning and Projects, congratulated the team who conducted this project on their achievement, emphasizing that this launch signifies the beginning of a new phase that will validate the decision to invest in such project.
Iman Wafy, Assistant CEO of EGPC for Information Technology & Telecommunications, stated that the SAP system was first applied to the four distributing companies in November 2022 with the full support of the authorities the matter that led to this launch at Misr Petroleum, to follow the line of Pipelines and Petrogas companies.
Some companies, including Enppi supported the project as it provided consultations and technical support and IBM as it dedicated cooperative teams. Additionally, the Ministry and EGPC provided investments and full support to the project as Wafy noted.
“Now we can speak of a comprehensive and interconnected system that includes the EGPC, six refining companies, and four distribution companies in a single downstream value chain, an unprecedented achievement in Egypt,” she added.
On his part, Ayman Abdel Badie, EGPC’s Vice Chairman for Transport and Distribution, highlighted the significant role Misr Petroleum is playing especially in the oil transportation and marketing system which includes 14 other marketing companies in the local market that work together to ensure stable supply of petroleum products as a key objective of the Ministry of Petroleum and Mineral Resources.
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Reacap Financial Investments (REAC.CA) - Release Regarding a Disclosure Form
Monday 28/10/202412:51:57 PMRead moreReacap Financial Investments (REAC.CA) - Release Regarding a Disclosure Form
Company Name : Reacap Financial Investments
ISIN Code : EGS69191C012
Reuters Code : REAC.CA
Content :
Release regarding the disclosure form according to the Article 29 of EGX Listing Rules.
The Release (272 KB) -
EGX indices close lower
Monday 28/10/202412:50:34 PMRead moreEGX indices close lower
SPA-
The Egyptian Stock Exchange indices closed lower at the close of trading today, driven by selling by institutions, foreign investment funds and investors.
The market capitalization of the shares of companies listed on the stock exchange lost about EGP 2 billion to end trading at EGP 2.219 trillion, amid total trading of about EGP 15.9 billion, including transactions in the bond market / ownership transfer deals, while stock market trading amounted to about EGP 4.5 billion.
The main index of the stock exchange (EGX 30) decreased by 0.13% to reach 30,773.53 points, while the small and medium-sized stocks index (EGX 70) decreased by 0.08% to reach 7,916.83 points.
The declines included the broader (EGX 10) index, which decreased by about 0.15% to reach 11,124.96 points. -
Addendum Announcement from Knowledge Net Co. in regard to Appointment of Audit Committee Members
Monday 28/10/202412:49:46 PMRead moreAddendum Announcement from Knowledge Net Co. in regard to Appointment of Audit Committee Members
Tadawul-
Element List Explanation
Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website 2024-10-24 Corresponding to 1446-04-21
Hyperlink to the Previous Announcement Click Here
Change on the Development Referring to the company's announcement regarding the Board of Directors' decision to appoint the Chairman and Vice Chairman, reorganize the subcommittees, appoint the Secretary of the Board, and designate the company's representatives to the Capital Market Authority.
The company would like to clarify the reformation of the Audit Committee, which includes the following appointments:
Mr. Ibrahim Mohammed Al-Sayef – Independent Member
Master's degree in economics, with extensive experience in all areas of investment and economics.
Mr. Mohammed Omar Al-Kharashi – Independent Member
Master's degree in accounting, holder of the American Certified Public Accountant (CPA) license, with over 30 years of experience in auditing, accounting, and internal review.
Mr. Mohammed Zaki Zakaria – Independent Member
Master's degree in computer science, with over 20 years of experience in investments and digital brokerage.
The committee will commence its duties on October 26, 2024, and will have a duration of three years, concluding on October 25, 2027.
Financial Impact on the change N/A -
Alexandria Flour Mills (AFMC.CA) - Board of Directors' Decisions
Monday 28/10/202412:46:36 PMRead moreAlexandria Flour Mills (AFMC.CA) - Board of Directors' Decisions
Company Name : Alexandria Flour Mills
ISIN Code : EGS30471C014
Reuters Code : AFMC.CA
Content :
The Board of Directors' decisions held on 28/10/2024 including the unaudited financial results of the period ended 30/09/2024.
The BoD Decisions (792 KB) -
Saudi Stock Market Index Closes Lower at 12,053 Points
Monday 28/10/202412:45:50 PMRead moreSaudi Stock Market Index Closes Lower at 12,053 Points
The Saudi Stock Exchange main index closed today down 15.82 points to close at 12053.15 points, with trades worth 5.4 billion Saudi riyals.
The volume of traded shares - according to the Saudi Press Agency's daily economic bulletin for the Saudi Stock Exchange - amounted to 584 million shares, in which the shares of 106 companies recorded an increase in their value, while the shares of 111 companies closed down.
The shares of Red Sea, Zamil Industrial, Arab, Etihad Etisalat, and Alhokair Group were the most rising, while the shares of Al Baha, Smasco, Nama Chemicals, Miahna, and MBC Group were the most declining in trading, as the rates of increase and decrease ranged between 8.32% and 7.69%.
While the shares of Al Baha, Shams, Anaam Holding, Alhokair Group, and Batek were the most active in terms of quantity, the shares of Al Rajhi, Red Sea, Amiantit, Miahna, and Saudi Aramco were the most active in terms of value.
The Saudi Parallel Stock Index (Nomu) closed today down 114.24 points to close at 26,802.70 points, with trading valued at 78 million Saudi riyals, and the number of traded shares reached 14 million shares. -
Announcement of SURE Global Tech. Co. regarding the renewal of its credit facility agreement (Islamic Shariah-compliant) provided by Arab National Bank.
Monday 28/10/202412:44:16 PMRead moreAnnouncement of SURE Global Tech. Co. regarding the renewal of its credit facility agreement (Islamic Shariah-compliant) provided by Arab National Bank.
Tadawul-
Element List Explanation
Introduction SURE Global Tech. Co. announces the renewal of its credit facility agreement (Islamic Shariah-compliant) provided by Arab National Bank.
Where the company's copy was signed and received on Monday 25-04-1446H corresponding to 28-10-2024G
Date of obtaining the funding 2024-10-28 Corresponding to 1446-04-25
Financing entity Arab National Bank
Financing amount. 30,000,000 SAR
Financing duration. Gregorian year
Guarantees offered for the financing A promissory note by 30,000,000 Saudi Riyals
Financing objective Financing current and future projects, issuing bank guarantees, and Letter of credits.
Related Parties NA -
Subscription Re-open Number (2) of Treasury Bonds 01 October 2026
Monday 28/10/202412:44:16 PMRead moreSubscription Re-open Number (2) of Treasury Bonds 01 October 2026
According to the letter received from the CBE & ECSD on 28/10/2024, including their approval to list the increase of Treasury Bonds 01 October 2026 with an additional EGP 4144000000 representing the subscription re-open no (2) of Treasury Bonds 01 October 2026, to reach EGP 12518000000 (distributed over 12518000 bonds at a par value of EGP 1000), with a fixed rate of' 25.072% annually to be paid twice per year in 01-10 & 01-04.
The above-mentioned increase will be added to EGX database & available for trading effective 29/10/2024 trading session.
ISIN Code:EGBGR05921F4
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Subscription Re-open Number (4) of Treasury Bonds 01 October 2027
Monday 28/10/202412:42:18 PMRead moreSubscription Re-open Number (4) of Treasury Bonds 01 October 2027
According to the letter received from the CBE & ECSD on 28/10/2024, including their approval to list the increase of Treasury Bonds 01 October 2027 with an additional EGP 7698040000 representing the subscription re-open no (4) of Treasury Bonds 01 October 2027, to reach EGP 109603955000 (distributed over 109603955 bonds at a par value of EGP 1000), with a fixed rate of' 24.458% annually to be paid once per year in 01-Oct.
The above-mentioned increase will be added to EGX database & available for trading effective 29/10/2024 trading session.
ISIN Code:EGBGR05931F3
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Alexandria Mineral Oils Company (AMOC.CA) - AGM Minutes (after Certification)
Monday 28/10/202412:41:34 PMRead moreAlexandria Mineral Oils Company (AMOC.CA) - AGM Minutes (after Certification)
Company Name : Alexandria Mineral Oils Company
ISIN Code : EGS380P1C010
Reuters Code : AMOC.CA
Content :
AGM minutes after certification
Assembly Date : 21/09/2024
AGM Minutes (after Certification) (6,169 KB)
Release from the Company in English (76 KB)
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Southern Province Cement Company invites its shareholders to deposit investment certificates in their portfolios and receive the profits of previous years
Monday 28/10/202412:37:38 PMRead moreSouthern Province Cement Company invites its shareholders to deposit investment certificates in their portfolios and receive the profits of previous years
Tadawul-
Element List Explanation
Announcement Detail Southern Province Cement Company invites its shareholders to deposit stock certificates in investment portfolios with the banks they deal with, as for shareholders who do not have investment portfolios, they should check with local banks and open an investment portfolio to deposit stock certificates in accordance with the instructions of the Capital Market Authority, the company also invites its valued shareholders who have accrued profits for previous years that have not been received yet as a result of not updating their Information, not depositing certificates in portfolios, not updating their bank accounts, or for any other reasons, please contact The company at the following address:
Southern Province Cement Company
Investor affairs. Phone No:
017-2271500 Ext 144 - 157 – 158
Email sh@spcc.com.sa -
Reminder Announcement from Shatirah House Restaurant Co. “BURGERIZZR” in reference to Inspection Period for the transition Document
Monday 28/10/202412:37:14 PMRead moreReminder Announcement from Shatirah House Restaurant Co. “BURGERIZZR” in reference to Inspection Period for the transition Document
Tadawul-
Element List Explanation
Announcement Detail With reference to the approval of the Saudi Stock Exchange (Tadawul) of Shatirah House Restaurant Co. “BURGERIZZR” (“the Company”) request for transition from the parallel market to the main market granted on Sunday 10-04-1446 AH (corresponding to 13-10-2024 AD), and the company’s announcement of publishing the Transition Document on Tuesday 12-04-1446 AH (corresponding to 15-10-2024 AD), Shatirah House Restaurant Co. “BURGERIZZR” would like to remind investors and shareholders that Tuesday 26-04-1446 AH (corresponding to 29-10-2024 AD) is the last day of the period during which the transition document will be available for public inspection. Accordingly, the Exchange will suspend the trading of the Company’s shares on Wednesday 27-04-1446 AH (corresponding to 30-10-2024 AD) for a period not exceeding five trading days and will begin the transition procedures to the main market. -
Zahrat Al Waha for Trading Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )
Monday 28/10/202412:36:47 PMRead moreZahrat Al Waha for Trading Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )
Tadawul-
Element List Current Quarter Similar Quarter For Previous Year %Change Previous Quarter % Change
Sales/Revenue 146,451,434 156,449,120 -6.39 145,375,090 0.74
Gross Profit (Loss) 15,634,313 16,910,494 -7.546 13,484,061 15.946
Operational Profit (Loss) 9,680,593 12,416,993 -22.037 7,053,225 37.25
Net profit (Loss) 4,057,181 7,164,281 -43.369 -1,538,271 -
Total Comprehensive Income 3,789,115 7,075,845 -46.449 -1,489,690 -
All figures are in (Actual) Saudi Arabia, Riyals
Element List Current Period Similar Period For Previous Year %Change
Sales/Revenue 428,917,936 463,719,133 -7.504
Gross Profit (Loss) 44,011,582 44,711,997 -1.566
Operational Profit (Loss) 22,578,502 29,782,136 -24.187
Net profit (Loss) 6,223,297 16,925,343 -63.23
Total Comprehensive Income 6,091,616 16,970,658 -64.105
Total Shareholders Equity (after Deducting Minority Equity) 291,812,014 299,235,435 -2.48
Profit (Loss) per Share 0.28 0.75
All figures are in (Actual) Saudi Arabia, Riyals
Element List Amount Percentage Of The Capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - -
All figures are in (Actual) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The reason for the decrease in the company's sales for the current quarter compared to the same quarter of the previous year is due to:
- Decrease in Preform sales segmentation due to customers' direction to lower weights with lower prices and due to decreased raw material prices.
- Decrease in the Caps segmentation due to decreased raw material prices
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reason for the decrease in the net profit of the current quarter compared to the same quarter of the previous year is due to:
- Increase in selling and marketing expenses.
- Increase in administrative and general expenses.
- Increase in financing costs.
- Increase in zakat due to the difference in zakat assessment for year 2023.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason for the increase in the company's sales for the current quarter compared to the previous quarter is due to:
- Increase in the sales volume of the Caps segmentation.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for the increase in the net profit of the current quarter compared to the previous quarter is due to:
- Increase in sales.
- Decrease in cost of goods sold.
- Decrease in selling and marketing expenses.
- Decrease in general and administrative expenses.
- Increase in profits from Investments at fair value by profit or loss.
- Decrease in financing costs.
- Decrease in zakat.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The reason for the decrease in the company's sales during the current period compared to the same period of the previous year is due to:
- Decrease in Preform sales segmentation due to customers' direction to lower weights with lower prices and due to decreased raw material prices.
- Decrease in the Caps sector due to decreased raw material prices.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason for the decrease in the net profit during the current period compared to the same period of the previous year is due to:
- Increase in selling and marketing expenses.
- Increase in administrative and general expenses.
- Increase in the expected credit losses on trade receivables.
- Increase in financing costs.
- Increase in zakat due to the difference in zakat assessment for 2019, 2020 and 2023.
Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) No
Reclassification of Comparison Items Some comparative figures have been reclassified and classified in the Statement of Cashflows to conform to the presentation for the current period.
Employees’ benefits: Before Reclassification 334,502 – Reclassification 60,228 - After Reclassification 394,730
Employees’ benefits Paid: Before Reclassification 0 – Reclassification (60,228) - After Reclassification (60,228).
Impairment of trade receivables: Before Reclassification 0 – Reclassification 514,286 - After Reclassification 514,286.
Trade Receivables, net: Before Reclassification 12,219,107 – Reclassification (514,286) - After Reclassification 11,704,821.
Please see the note No. 22 in the Interim Condensed Financial Statements for the period ending 30, September 2024.
Additional Information 1- The balance of Investments at fair value by profit or loss increased by 11.35% on 30, September 2024, compared to its balance on 31, December 2023, due to the increase in profits.
2- The balance of long-term loans, the non-current part, decreased on 30, September 2024 by 79.13% compared to its balance on 31, December 2023.
3- The balance of short-term loans used to finance working capital decreased on 30, September 2024 by 8.64% compared to its balance on 31, December 2023.
4- The balance of the Zakat provision decreased on 30, September 2024 by 48.82% compared to its balance on 31, December 2023.
5- Basic earnings per share is calculated by dividing income for the period attributable to the Company’s ordinary shareholders by the weighted average number of ordinary shares outstanding during the period, the diluted earnings per share are the same as the basic earnings per share as the company has no diluted instruments.
6- We would like to give the attention of our valued shareholders to the condensed interim Financial Statements for the nine-month, ended 30, September 2024, which will be available on the investor relations app for Zahrat Al Waha for Trading Co. smartphones and tablets, and through the company's website at the following link https://zaoasis.com/investors/financial-information after sending it to the competent authorities. -
First Milling Company Announces Hosting its Virtual Q3/9 months 2024 Earnings Conference Call to Discuss the Financial Results with Financial Analysts and Investors.
Monday 28/10/202412:36:21 PMRead moreFirst Milling Company Announces Hosting its Virtual Q3/9 months 2024 Earnings Conference Call to Discuss the Financial Results with Financial Analysts and Investors.
Tadawul-
Element List Explanation
Announcement Detail First Milling Company is pleased to announce that it will be hosting its Q3/9 months 2024 Earnings Call for analysts and investors on Wednesday, the 30th of October 2024, at 4:00 PM KSA Time.
First Milling Company is keen to promote high levels of transparency and to adopt positive interaction with its shareholders and the investment community by keeping them informed of the Company's updates and results.
For any further information and to receive the link to participate in the call and the call’s presentation, kindly contact the Investors Relations Department at the email:
IR@firstmills.com -
Qatar Chamber, Saudi Delegation Discuss Partnership Opportunities
Monday 28/10/202412:33:56 PMRead moreQatar Chamber, Saudi Delegation Discuss Partnership Opportunities
(QNA)-
Qatar Chamber (QC) met with a Saudi delegation representing the Asharqia Young Businessmen Council (AYBC) and discussed cooperation relations and partnership opportunities between Qatari and Saudi entrepreneurs to establish joint projects.
This came in a meeting held by Qatar Chamber with a Saudi delegation representing AYBC, during which QC's Acting General Manager, Ali Bu Sherbak Al Mansori, presented an overview of the Chamber's role and the services it provides to the business community in Qatar, as well as the key initiatives it adopts for the support for entrepreneurs, pointing out that QC organized several specialized entrepreneurship events this year.
He also highlighted that QC places significant importance on entrepreneurs as a vital part of the private sector, emphasizing its commitment to encouraging them to establish businesses and increase the number of small and medium-sized enterprises (SMEs) in the country.
Al Mansori underscored the Chamber's readiness to cooperate with AYBC by organizing joint meetings between Qatari and Saudi entrepreneurs to exchange views and expertise and discuss opportunities to establish joint ventures.
For his part, AYBC President Abdulrahman Al Afaliq said that the delegation's visit aims to learn about Qatar's investment climate and explore opportunities available for Saudi entrepreneurs to form partnerships with their Qatari counterparts.
Asharqia Young Businessmen Council operates under the umbrella of the Asharqia Chamber and consists of 50 entrepreneurs, Al Afaliq added, noting that AYBC encourages young men and women to pursue entrepreneurship, present their ideas, and promote successful experiences. It also aims to expand and grow entrepreneurial projects, organize, and participate in entrepreneurial events, and engage with entities that support youth business projects, he added.
In turn, President of the Qatar Young Entrepreneurs Club (YEC), Dr. Ibrahim Al Sulaiti said that, through the events it organizes in cooperation with the QC, YEC seeks to exchange experiences and skills among entrepreneurs. -
Oman Oil Price Declines 1.80 US Dollars
Monday 28/10/202412:28:29 PMRead moreOman Oil Price Declines 1.80 US Dollars
(ONA)-
Oman oil price (December delivery 2024) today reached 72.25 US Dollars, comprising a decline by 1.80 US Dollars compared to the price of last “Friday” which stood at 74.05 US Dollars.
The average price of Oman oil (October delivery 2024) stabilized at 77.54 US Dollars per barrel, thus 6.31 US Dollars per barrel lower than September delivery 2024. -
Release from El Arabia for Land Reclamation (EALR.CA) Concerning the Board of Directors & the Executive Managers
Monday 28/10/202412:28:28 PMRead moreRelease from El Arabia for Land Reclamation (EALR.CA) Concerning the Board of Directors & the Executive Managers
Company Name : El Arabia for Land Reclamation
ISIN Code : EGS65771C015
Reuters Code : EALR.CA
Content :
Release from the company concerning the Board of Directors & the Executive Managers.
Release from the Company (598 KB) -
Pakistan Stock Exchange closes higher
Monday 28/10/202412:26:59 PMRead morePakistan Stock Exchange closes higher
SPA-
The Karachi Stock Exchange, Pakistan's largest stock market, closed today with a rise of 0.22 percent, equivalent to 201 points, to reach 90,195 points. The volume of traded shares reached 267,244,697 shares, representing the shares of 456 companies, of which the value of shares of 179 companies increased, while the value of shares of 222 companies decreased, and the value of shares of 55 companies remained stable. -
Sensex Breaks 5-Day Losing Run
Monday 28/10/202412:25:50 PMRead moreSensex Breaks 5-Day Losing Run
Trading Economics-
The BSE Sensex rose about 0.8% to close at 80,005 on Monday, halting five consecutive sessions of decreases, driven by banking and financial stocks following upbeat results from ICICI Bank and other lenders. Metal stocks also saw gains. In the meantime, Sun Pharma advanced 2.3% after its quarterly profit beat analysts' estimates. Traders are now anticipating a slew of economic data from the U.S. later this week, including Q3 GDP, employment figures, and PCE inflation, for further insights into the Federal Reserve's policy outlook, as well as PMI data from China. -
Australian Shares Edge Up in Cautious Trade
Monday 28/10/202412:22:57 PMRead moreAustralian Shares Edge Up in Cautious Trade
Trading Economics-
The S&P/ASX 200 Index edged up 0.12% to close at 8,222 on Monday, rising for the second straight session as gains in heavyweight iron ore miners outweighed losses in gold and oil stocks. Still, investors remained cautious ahead of key domestic inflation figures this week that could influence Reserve Bank of Australia monetary policy. The central bank said that the current level of the cash rate of 4.35% is restrictive enough to bring inflation down to the target range of 2%-3% while supporting employment. Iron ore miners advanced, including BHP Group (1.3%), Fortescue (2.2%) and Rio Tinto (1.7%). Technology stocks also outperformed such as Wisetech Global (0.9%) and Zip Co (3.7%). Meanwhile, gold and oil stocks tumbled on weaker prices in the underlying commodities, with losses from Northern Star Resources (-5.5%) and Santos (-0.6%). Elsewhere, Paladin Energy sank 15.3% as the uranium company reported operational challenges. -
Increasing the Issue Size of Treasury Bills 29 July 2025
Monday 28/10/202412:22:54 PMRead moreIncreasing the Issue Size of Treasury Bills 29 July 2025
According to the letter received from the CBE & ECSD on 2024/10/28, including their request to increase the issue size of Treasury bills 29 July 2025 issued on 2024/07/30 with an additional EGP 2,027,350,000 representing the increase of the issue size, to reach EGP 57,311,550,000 (distributed over 2,292,462 bills at a par value of EGP 25000).
The above-mentioned increase will be added to EGX database & available for trading effective 2024/10/29 trading session.
ISIN Code:EGT9980T7P11
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Japanese Shares Rally
Monday 28/10/202412:21:49 PMRead moreJapanese Shares Rally
Trading Economics-
The Nikkei 225 Index jumped 1.82% to close at 38,605 while the broad-based Topix Index gained 1.51% to 2,658 on Monday, recovering most of the losses from last week as the yen weakened further Meanwhile, the BOJ is set to decide on monetary policy on Thursday, although it is expected to keep policy unchanged. The yen declined to an almost three-month low on the dollar, boosting the profit outlook for Japan’s export-heavy industries. Technology stocks led the rebound, with strong gains from Disco (5.2%), Lasertec (4.9%), Advantest (4.6%), Tokyo Electron (2.8%) and SoftBank Group (3%). Other index heavyweights also advanced, including Mitsubishi UFJ (0.9%), Toyota Motor (4.1%) and Fast Retailing (1.2%).
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Capital For Securitization 3rd Issue 2nd Pro Tranche D Mar 2026 FR (CAPSEC3P2D=CA) Declares Bond Dividends for Coupon No. (16)
Monday 28/10/202412:21:31 PMRead moreCapital For Securitization 3rd Issue 2nd Pro Tranche D Mar 2026 FR (CAPSEC3P2D=CA) Declares Bond Dividends for Coupon No. (16)
Issuer Name : Capital For Securitization 3rd Issue 2nd Pro Tranche D Mar 2026 FR
ISIN Code : EGB69611S469
Reuters Code : CAPSEC3P2D=CA
Interest Type : Fixed
Coupon Interest : 22.25%
Coupon Amount : EGP 1.0676952052
Coupon Number : 16
Coupon Date : 07/11/2024
Coupon Payment Date : 10/11/2024
Notes :
Bond Redemption EGP 4.00
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PBoC Launches Monthly Reverse Repo Operations
Monday 28/10/202412:20:01 PMRead morePBoC Launches Monthly Reverse Repo Operations
Trading Economics-
The People's Bank of China (PBoC) said today it will conduct so-called outright reverse repurchase operations with primary dealers starting Monday, October 28. The central added that the operations will be carried out once a month and have a tenor of less than a year. Monday's move is the latest step by Chinese monetary authorities to diversify their monetary policy toolkit, aiming to maintain a reasonable level of liquidity in the banking system. In July, it launched a new mechanism for temporary bond repurchase agreements and additional reverse repos. The PBoC also mentioned it will repurchase central and local government bonds, as well as financial bonds and corporate credit debt, and disclose the details on its website. -
South Korean Shares Start the Week Higher
Monday 28/10/202412:19:01 PMRead moreSouth Korean Shares Start the Week Higher
Trading Economics-
The benchmark KOSPI rose 1.1% to close at 2,612 points on Monday, extending gains from the previous session, lifted by heavyweight Samsung Electronics while investors digested a raft of corporate earnings. The chip giant rebounded 3.9% from its lowest level since early January 2023, while competitor SK Hynix fell 2.5%. Meanwhile, LG Energy Solutions soared 2.3% after its Q3 results fell less than anticipated, and peer Samsung SDI surged 8.2%. Battery-related stocks also saw notable gains, including LG Chem (5.1%), Posco Future M (7.1%) and Ecopro BM (9.1%). Additionally, Kia shares climbed 3%, following a year-over-year increase in third-quarter net income. In economic news, South Korea's finance minister hinted at a possible downgrade to the 2.6% growth forecast after Q3 GDP rose just 0.1%, falling short of expectations. -
Adding the Treasury Bills 28 October 2025 To EGX Trading System
Monday 28/10/202412:18:16 PMRead moreAdding the Treasury Bills 28 October 2025 To EGX Trading System
According to the letter received from the CBE & ECSD on 2024/10/28, including their request to add this issue of Treasury Bills 28 October 2025 issued on 2024/10/29 amounted to EGP 2,923,825,000 distributed over 116,953 bills at a par value of EGP 25000 To The EGX trading system with a discount rate of 26.241%
The above-mentioned issue will be added to EGX database & available for trading effective 2024/10/29 trading session.
ISIN Code:EGT9980SAP13
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Copper Eases on Stronger Dollar, Treasury Yields
Monday 28/10/202412:17:34 PMRead moreCopper Eases on Stronger Dollar, Treasury Yields
Trading Economics-
Copper futures slipped to around $4.31 per pound on Monday after rising for two straight sessions, weighed down by a stronger dollar and Treasury yields as signs of resilience in the US economy tempered expectations for aggressive Federal Reserve interest rate cuts. Meanwhile, investors look ahead to the meeting of the National People’s Congress scheduled on Nov. 4-8 for potential announcements on debt and other fiscal measures. Data released over the weekend showed that industrial profits in China declined at the fastest pace since the pandemic in the first nine months of the year amid persistently weak demand, weighing on the economic outlook in the world’s top metals consumer. -
China Stocks Gain as PBOC Launches New Tool
Monday 28/10/202412:15:33 PMRead moreChina Stocks Gain as PBOC Launches New Tool
Trading Economics-
The Shanghai Composite rose 0.68% to close at 3,322 while the Shenzhen Component climbed 0.62% to 10,686 on Monday, extending gains from last week after the People’s Bank of China said it will conduct monthly outright reverse repo operations to boost “liquidity in the banking system and further enrich the central bank's monetary policy toolbox.” Investors also look ahead to the meeting of the National People’s Congress scheduled on Nov. 4-8 for potential announcements on debt and other fiscal measures. Meanwhile, data released over the weekend showed that industrial profits in China declined in the nine months to September amid persistent demand weakness. Investors now await Chinese PMI reports later this week for further insights on the economy. Technology stocks led the charge, with strong gains from Sichuan Changhong (10%), Shijiazhuang Chan (10%). Shenzhen Infogem (20%), Shanghai Belling (10%) and Shenzhen Kaifa (10%). -
Silver Pressured by Stronger Dollar, Yields
Monday 28/10/202412:14:47 PMRead moreSilver Pressured by Stronger Dollar, Yields
Trading Economics-
Silver held its recent decline to around $33.7 per ounce on Monday as the dollar and Treasury yields rallied further on signs of strength in the US economy Meanwhile, investors look ahead to the meeting of the National People’s Congress scheduled on Nov. 4-8 for potential announcements on debt and other fiscal measures from Beijing. Data released over the weekend showed that industrial profits in China declined at the fastest pace since the pandemic in the first nine months of the year amid persistently weak demand, weighing on the economic outlook in the world’s top metals consumer. -
Hang Seng Muted at Finish
Monday 28/10/202412:13:22 PMRead moreHang Seng Muted at Finish
Trading Economics-
The Hang Seng ended almost flat at around 20,599 on Monday after closing modestly higher in the previous session, with gains in property and tech nearly offsetting losses in financials. Cautious traders anticipated China's Manufacturing PMI for October from both officials and a private survey later this week.On economic data, industrial profits in China tumbled 27.1% yoy in September, the steepest fall since March 2020, due to persistently low factory gate prices, surging costs, and a high base from last year. For the first nine months of the year, industrial profits fell 3.5%, reversing a 0.5% rise in the preceding period. In Hong Kong, business sentiment hit a 2-1/2 year low of -3 in Q3, the second straight quarter of negative readings. Miniso Group (8.4%), Longfor Group (4.4%) logged strong gains while Innovent Biologics (-12.2%) and Ubtech Robotics (-8.5%) slipped. -
Kuwait Bourse Closes Higher
Monday 28/10/202412:12:10 PMRead moreKuwait Bourse Closes Higher
(QNA)-
Kuwait Bourse closed Monday trading as the All Share Index gained 9.38 points to reach 7,097.10 points, an increase of 0.13 percent.
As many as 474 million shares valued at KWD 84.2 million (roughly USD 256.8 million) were traded via 20,224 transactions.
The Main Market Index went down by 14.63 points to reach 6,453.75 points, a decrease of 0.23 percent, through 305.3 million shares done via 12,505 transactions valued at KWD 42.11 million (roughly USD 128.4 million).
The Premier Market Index went up by 16.21 points to reach 7,610.31, an increase of 0.21 percent through 168.7 million shares done via 7,719 transactions valued at KWD 42.13 million (roughly USD 128.4 million).
Meanwhile, the bourse Main 50 Index lost 26.23 points to reach 6,375.04 points, a decrease of 0.41 percent, through stock volume of 220.9 million shares done in 8,447 deals at a value of KWD 34.4 million (roughly USD 104.9 million). -
Daily Summary of Beirut Stock Exchange
Monday 28/10/202412:11:17 PMRead moreDaily Summary of Beirut Stock Exchange
Trading value for Monday 28 October 2024 reached USD 0.70 million. 7,026 shares were traded through 15 transactions.
During the session 2 instrument(s) were traded, the prices of 2 instrument(s) rose, the prices of 0 instrument(s) decreased, while the prices of 0 instrument(s) remained unchanged.
The Stock Capitalization of the listed companies increased by 2.05% to reach USD 22,605 million, against USD 22,141 million for the previous session. -
General Silos & Storage (GSSC.CA) - AGM Minutes (before Certification)
Monday 28/10/202412:07:09 PMRead moreGeneral Silos & Storage (GSSC.CA) - AGM Minutes (before Certification)
Company Name : General Silos & Storage
ISIN Code : EGS30441C017
Reuters Code : GSSC.CA
Content :
AGM minutes before certification.
Assembly Date : 19/10/2024
AGM Minutes (before Certification) (21,700 KB) -
South Cairo & Giza Mills & Bakeries (SCFM.CA) Reports Year Ended 30/06/2024 Results
Monday 28/10/202412:01:15 PMRead moreSouth Cairo & Giza Mills & Bakeries (SCFM.CA) Reports Year Ended 30/06/2024 Results
Company Name : South Cairo & Giza Mills & Bakeries
ISIN Code : EGS30411C010
Currency : EGP
F/S Period : From 01/07/2023 To 30/06/2024
Net Profit : 3,643 Value In Thousand
F/S Period: From 01/07/2022 To 30/06/2023
Net Comparative Profit : 42,003 Value In Thousand
Audit Status : Audited
Source : South Cairo & Giza Mills & Bakeries
The BoD Report (4,388 KB)
Corporate Governance Report (1,899 KB)
ESG Report (1,919 KB)
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Increasing the Issue Size of Treasury Bills 28 January 2025
Monday 28/10/202411:58:06 AMRead moreIncreasing the Issue Size of Treasury Bills 28 January 2025
According to the letter received from the CBE & ECSD on 2024/10/28, including their request to increase the Issue Size of Treasury bills 28 January 2025 issued on 2024/01/30 with an additional EGP 52,356,125,000 representing the increase of the issue size, to reach EGP 103,717,225,000 (distributed over 4,148,689 bills at a par value of EGP 25000).
The above-mentioned increase will be added to EGX database & available for trading effective 2024/10/29 trading session.
ISIN Code:EGT9980S1P19
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Increasing the Issue Size of Treasury Bills 29 April 2025
Monday 28/10/202411:54:44 AMRead moreIncreasing the Issue Size of Treasury Bills 29 April 2025
According to the letter received from the CBE & ECSD on 2024/10/28, including their request to increase the Issue Size of Treasury Bills 29 April 2025 issued on 2024/04/30 with an additional EGP 13,432,825,000 representing the increase of the issue size, to reach EGP 31,685,500,000 (distributed over 1,267,420 bills at a par value of EGP 25000).
The above-mentioned increase will be added to EGX database & available for trading effective 2024/10/29 trading session.
ISIN Code:EGT9980T4P14